Demand for apartments doesn’t show any signs of slowing down—but it’s become a challenge for many developers and investors as development costs rise. Supply is having a hard time keeping up with demand already—and that’s not likely to change any time soon.
National demand for apartments has been growing for several years and new units have been absorbed as quickly as they have become available. Vacancy rates are near historic lows and rents continue to rise. Based on demographic and economic data, we can expect to see even greater demand for apartments in the next couple of years.
Read more...Apartment Market Faces Supply Challenges, Amid Growing Demand